Chelsea and Manchester City transfer target Fernando Llorente has rejected Athletico Bilbao's first contract offer.

The Spain striker is looking to double his current £40,000 a week, but Bilbao are only willing to stretch to £60,000 a week. The 27-year-old only has 12 months left to run on his contract, putting Chelsea and City on alert.

According to the Metro, talks have now broken down as the player has told Bilbao he's ready to move on. But the La Liga side are hopeful they can persuade Llorente to change his mind.

With just 12 months left to run on his current deal, Bilbao are aware that Llorente could leave on a free transfer next summer, and is free to negotiate with rival clubs from January onwards.

The £15m-rated striker has bagged 90 goals in 236 matches during a seven-year stint in northern Spain, and has drawn admiring glances from Real Madrid and Milan.

But Manchester City and Chelsea remain his most likely destinations, with City sending scouts to watch the 6ft 5in forward several times last season.

But reports suggest Roberto Mancini is anxious to move Edin Dzeko on before making a move for the Spaniard, which could leave the door open for Chelsea and Roberto Di Matteo to snare their perfect Didier Drogba replacement.

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